IWC Options History — March 2023

In March 2023, IWC traded between $100.80 and $116.39. ATM implied volatility averaged 27.1%, placing in the 22.7% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 3.5% (HV 20d: 23.6%). Max pain ranged from $104.00 to $115.00. Net GEX was positive for 3 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 4.24.

Notable Days

  • 2023-03-15: Highest Volume — 43 contracts
  • 2023-03-10: Largest IV spike — 43.7% change
  • 2023-03-13: Highest IV Rank — 64.0%
  • 2023-03-23: Largest Expected Move — 8.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$106.52$100.80$116.39$115.09$103.88
Max Pain$108.43$104.00$115.00$114.00$104.00
ATM IV27.1%19.1%46.1%23.1%24.2%
Expected Move7.1%5.9%8.4%6.6%6.9%
HV 20d23.6%15.4%28.8%17.4%28.8%
HV 60d21.3%18.4%23.1%19.3%22.6%
IV Rank22.7%5.4%64.0%14.1%16.4%
IV Percentile34.8%1.6%97.6%13.1%22.6%
Term Structure-0.7%-6.8%1.9%-0.0%-2.2%
VWIV27.2%20.4%33.5%24.0%22.4%
Skew 25d7.4%1.7%12.4%4.9%10.6%
Skew 10d13.2%0.6%25.1%6.9%14.4%
Call IV 25d22.3%17.4%30.2%21.3%21.0%
Put IV 25d29.7%23.1%37.9%26.1%31.6%
Bid-Ask Spread %91.8375.41113.8486.14106.53
Gamma HHI0.230.120.400.130.23
Net GEX-33.2K-147.5K7.1K-1.6K-21.4K
Net DEX270.1K-162.2K583.5K-114.7K361.5K
Net VEX-2.0K-2.4K-1.8K-2.0K-2.1K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio4.240.0017.000.000.00
Total Volume9.43504302
Total OI257.522181314292223

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$115.09$114.0023.1%6.6%17.4%14.1%0.0%4.9%-0.0%-1.6K-114.7K-2.0K0.0086.14N/AN/A0062230
2023-03-02$115.13$114.0023.0%6.6%15.4%13.8%24.0%7.6%-1.3%2.0K-118.1K-1.9K0.0097.49N/AN/A1062230
2023-03-03$116.39$114.0021.5%6.2%15.8%10.5%28.5%1.7%-6.8%7.1K-162.2K-2.0K2.00113.84N/AN/A2463230
2023-03-06$113.95$107.0020.0%5.9%17.2%7.2%0.0%6.0%1.8%1.5K-149.5K-2.0K0.00109.04N/AN/A0165230
2023-03-07$113.55$107.0019.1%5.9%17.0%5.4%22.5%5.0%0.6%-727-92.5K-2.0K0.0086.69N/AN/A0265231
2023-03-08$113.19$115.0022.3%6.4%16.7%12.3%0.0%4.6%0.9%-389-61.2K-1.9K0.0087.01N/AN/A0065233
2023-03-09$109.88$115.0029.0%6.7%18.9%27.0%0.0%5.1%0.3%-10.8K30.2K-1.9K0.0075.41N/AN/A0165233
2023-03-10$105.38$115.0041.7%8.4%22.9%54.6%0.0%7.9%-4.2%-64.2K438.7K-2.1K6.2580.43N/AN/A42565234
2023-03-13$104.39$115.0046.1%8.3%22.9%64.0%28.9%11.9%-1.1%-61.8K583.5K-2.1K17.0087.49N/AN/A11769210
2023-03-14$105.79$115.0043.4%7.4%23.6%58.3%27.8%7.9%1.7%-61.3K374.2K-1.9K0.0090.40N/AN/A0168225
2023-03-15$103.47$115.0027.7%7.9%24.1%24.1%31.1%8.6%0.2%-104.3K579.4K-1.9K3.7880.79N/AN/A93468225
2023-03-16$105.07$104.0024.1%6.9%24.9%16.2%29.3%8.1%0.3%-111.6K404.6K-1.8K0.4285.62N/AN/A19877229
2023-03-17$102.20$104.0026.8%7.7%26.1%22.1%29.8%8.2%1.1%-147.5K532.6K-1.8K1.3385.68N/AN/A3477237
2023-03-20$102.30$104.0027.4%7.9%26.0%23.4%23.7%9.3%0.1%-12.0K347.0K-1.8K1.3381.53N/AN/A3470111
2023-03-21$104.88$104.0025.3%7.2%27.3%18.7%21.4%7.6%-2.9%-9.8K245.8K-1.9K13.0080.71N/AN/A11373113
2023-03-22$102.47$104.0024.8%7.1%28.1%17.7%33.5%6.5%1.9%-16.4K360.8K-2.0K0.0093.04N/AN/A0174126
2023-03-23$100.80$104.0029.3%8.4%27.9%27.5%32.9%7.5%-2.4%-18.1K452.4K-2.0K0.0093.88N/AN/A0174127
2023-03-24$101.33$104.0028.5%8.2%28.0%25.8%28.4%12.4%-1.8%-20.4K436.9K-2.1K0.0094.88N/AN/A02874127
2023-03-27$102.66$104.0024.0%6.9%28.5%16.0%28.6%8.2%-0.1%-27.1K457.8K-2.4K0.0094.00N/AN/A0674149
2023-03-28$102.06$104.0024.8%7.1%28.0%17.7%0.0%9.4%1.0%-26.8K452.9K-2.3K0.0099.22N/AN/A0174146
2023-03-29$103.42$104.0025.3%7.3%28.8%18.8%29.1%8.2%-2.8%-28.7K448.2K-2.2K0.0098.54N/AN/A0174147
2023-03-30$102.64$104.0021.5%6.2%28.7%10.6%20.4%4.0%0.6%-28.5K403.2K-2.3K1.50103.74N/AN/A81273146
2023-03-31$103.88$104.0024.2%6.9%28.8%16.4%22.4%10.6%-2.2%-21.4K361.5K-2.1K0.00106.53N/AN/A2081142